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is do what bill clinton did and reach across the table. >> susie: you know, bond the-- beyond the fiscal cliff and i know that say big issue hanging over the markets but there are also fundamentals going on as well. we got mixed reports on the economy. tom just talked about that weak data showing businesses contracting. and we're also getting warnings on weak corporate profits. so doesn't this give you pause about buying in this market right now? >> i think, i just got back from two weeks in europe speaking to portfolio managers in seven different countries. they are profoundly underinvestmented in the u.s. the endowment funds in this country are profoundly underinvested in u.s. equities. a lot of portfolio managers are hoping equities go down as measured by the s&p so their underperformance doesn't look as bad. if the market doesn't go down here i think they will be forced to chase not end of the year. >> susie: uh-huh. beyond stocks, give us your thoughts on bonds, on gold, and other commodities. >> i think gold is in a secular bull market. i think it's just been consolidating the big
is do what bill clinton did and reach across the table. >> susie: you know, bond the-- beyond the fiscal cliff and i know that say big issue hanging over the markets but there are also fundamentals going on as well. we got mixed reports on the economy. tom just talked about that weak data showing businesses contracting. and we're also getting warnings on weak corporate profits. so doesn't this give you pause about buying in this market right now? >> i think, i just got back from two...
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we had eight years under bill clinton. tax rates were high and we had 22 million new jobs. eight years under george bush and disaster. igor volsky, great to see you again, my friend. thanks for coming in. thinkprogress.org. and we'll be right back. >> announcer: radio meets television. the "bill press show." now on current tv. that viewers like about the young turks is that we're honest. they can i think that the audience gets that this guy, to the best of tell them it's like being nestled in an eight-way, adjustable, heated and ventilated seat surrounded by a 500-watt sound system while floating on a suspension made of billowy clouds. or you could just hand them your keys. ♪ ♪ ♪ ♪ >> announcer: taking your e-mails on any topic at any show." live on your radio and current tv. >> bill: hey, lots of comments and responses to our question, we asked at the very top of the hour. should the kkk be allowed to adopt a highway in georgia. >> announcer: taking your e-mails on any topic at any time, this is the "bill press show." live on your radio and current tv. >> bill: all
we had eight years under bill clinton. tax rates were high and we had 22 million new jobs. eight years under george bush and disaster. igor volsky, great to see you again, my friend. thanks for coming in. thinkprogress.org. and we'll be right back. >> announcer: radio meets television. the "bill press show." now on current tv. that viewers like about the young turks is that we're honest. they can i think that the audience gets that this guy, to the best of tell them it's like...
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Dec 4, 2012
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former chief of staff of bill clinton. john has to leave us early. we have the director of the urban institute's tax policy center. we'll see if you two disagree on anything. we have will marshal from the progressive policy institute. we have senator bob packwood from oregon, former chairman of the senate finance committee, part of the 1986 negotiations. and the other folks here have been part of the conversation. my only message to the new arrivals, please jump in whenever you see fit. we have an hour to an hour and a half. if you hear something you want to weigh in on, don't wait for me. we're talking now about the other very small issue in this issue and that is tax policy and how best to put the nation on a sustainable fiscal path. the question of revenue, how much, where to get it, the options on the table and would like your thoughts. as you heard from chairman bachus. they need ideas to bridge this gap because we appear to be at a stale mate. i turn it over to john to get your thoughts knowing he has to leave and the center for american progre
former chief of staff of bill clinton. john has to leave us early. we have the director of the urban institute's tax policy center. we'll see if you two disagree on anything. we have will marshal from the progressive policy institute. we have senator bob packwood from oregon, former chairman of the senate finance committee, part of the 1986 negotiations. and the other folks here have been part of the conversation. my only message to the new arrivals, please jump in whenever you see fit. we have...
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even bill krystal agrees with them. the economy boomed during the middle of the clinton two administrations when the high tax rate was at 39.6%. we had a huge expansion of productivity and everybody was feeling quite prosperous as i recall. and so the question is why not seriously go back to something like that again? i think we can stipulate that nobody wants to pay more taxes. i don't want to pay any more taxes, you don't, but we've just come through this period where we've funded two huge, expensive wars and didn't pay for it, and now the bill is coming due. what a surprise. we've got to get around to paying for it. >> what about this idea of killing this carried interest notion and also increasing the amount charged against dividends. of course, warren buffett has suggested if you're earning over $1 million in terms of your capital benefits, then you should be tacked at a minimum of 30%. does that make sense? >> it certainly makes sense that the carrot interest, this province of private he can quit guys like mitt ro
even bill krystal agrees with them. the economy boomed during the middle of the clinton two administrations when the high tax rate was at 39.6%. we had a huge expansion of productivity and everybody was feeling quite prosperous as i recall. and so the question is why not seriously go back to something like that again? i think we can stipulate that nobody wants to pay more taxes. i don't want to pay any more taxes, you don't, but we've just come through this period where we've funded two huge,...
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we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates street if they should go up some, but do they need to go back where they work? i do not know. lots of ways to increase taxes on rich people, and it may be that a hybrid of marginal tax increases and the kind of base- broadening loophole closing expenditure closing that simpson-bowles proposed should be part of the mix. raising marginal rates does not guarantee you will get your intended target. a very rich people depend more on investment income than on their labour income. if you want to get them -- and this is where mitt romney was able to pay a 14% tax rate on earnings of $14 million -- so if you are trying to get the super- rich, the top 10th of 1%, it may be that marginal tax rates does not serve your purpose.
we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates street if they should go up some, but do they need to go back where they work? i do not know. lots of ways to increase taxes on...
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Dec 4, 2012
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obama has been unequivocal over the fact that the top earners tax rate must return to the clinton era. he can introduce a tax plan that will accomplish all of his revenue goals. that's the rumbling that they are getting ready to cave and make it seem like they are not caving. the republicans are suddenly in control, blah, blah, blah blah blah. so i don't -- i'm getting confused on how the best way is for this to play out. [♪ "world news tonight" theme ♪] >> stephanie: you know president bad for business, jim? corporate profits have hit a record high while wages have hit a record low. corporation earnings are up 18.6% from a year ago. >> thanks to that socialist obama. >> stephanie: wages as a percentage of the economy are at an all-time low as this chart shows. i have a handy dandy chart once again. >> socialist, communist, hip hop barbecue. >> stephanie: thank you, skeeter. let's goo to jerry. >> caller: hey, steph. i was wondering during the fiscal cliff thing they are talking about putting medicare and everything on the block, couldn't they accuse the president of cutting $716
obama has been unequivocal over the fact that the top earners tax rate must return to the clinton era. he can introduce a tax plan that will accomplish all of his revenue goals. that's the rumbling that they are getting ready to cave and make it seem like they are not caving. the republicans are suddenly in control, blah, blah, blah blah blah. so i don't -- i'm getting confused on how the best way is for this to play out. [♪ "world news tonight" theme ♪] >> stephanie: you...
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two eye-opening visits with former presidents bill clinton and george w. bush. that'll do it. at the end of their journey, ron concluded this in part, quote, rather than sweat over it, i now realize how much i'd miss if he was ant an aspie, his humor, bluntness, obsessions with everything from video games to family. i saw through both presidents a successful future in tyler. in clinton, big possibilities for a boy with sharp mind and rough edges. in bush, tyler's gift of humor as a means to find confidence in himself and connections with others. i learned that while tyler was not my idealized son, he was the ideal one. in the oval office years ago, i thought bush had ordered me to love that boy in spite of his idiosyncrasies, now i realize i love my son because of them. okay. i'm going to cry. that's beautiful. >> thank you. >> sounds like an incredible journey for both of you. >> it was. it was my wife's idea. and it's a remarkable gift she gave us to make us go on the road together. and the two presidents, the graciousness they showed in spending time with tyler, i could nev
two eye-opening visits with former presidents bill clinton and george w. bush. that'll do it. at the end of their journey, ron concluded this in part, quote, rather than sweat over it, i now realize how much i'd miss if he was ant an aspie, his humor, bluntness, obsessions with everything from video games to family. i saw through both presidents a successful future in tyler. in clinton, big possibilities for a boy with sharp mind and rough edges. in bush, tyler's gift of humor as a means to...